‘Ghebyshev's Theorem ‘The proportion of any set of data lying within k standard deviations of the mean is always at least 1— 1/k? , where k is any positive number greater than 1. For k= 2 and k= 3, we get the following results : - Atleast 3/4 (or 75%) of all values lie within 2 standard deviations of the mean. - Atleast 8/9 (or 89%) of all values lie within 3 standard deviations of the mean. Phrase Meaning within 2 standard deviations of the mean between (¥-2s) and (#+2s) within 3 standard deviations of the mean between (¥-3s) and (¥+3s) example: 1. Heights of men have a mean of 69.0 in. and a standard deviation of 2.8 in. What can we conclude from Chebyshev's theorem? 2. The mean price of house in a certain neighborhood is $50,000 and the standard deviation is $10,000. Find the price range for which at least 75% of the houses will sell. 3. Asurvey of local companies found that the mean amount of travel allowance for executives was $0.25 per mile. The standard deviation was $0.02 . Using the Chebyshev's theorem, find ‘the minimum percentage of the data values that will fall between $0.20 and $0.30.Coefficient of Variation A statistic that allows one to compare standard deviations when the units are different is called the coefficient of variation. The coefficient of variation is the standard deviation divided by the mean. The result is expressed as percent. sample = population standard deviation, read as “sigma” = population mean, pronounced as “mu” example ‘1 The mean of the number of sales of cars over a three-month period is 87 and the standard deviation is 5. The mean of the commissions is $5225 and the standard deviation is $773. Find the coefficients of variation. 2. The mean for the number of pages of a sample of women’s fitness magazines is 132, with a variance of 23; the mean for a sample of men’s fitness magazines is 182, with a variance of 62. Find the coefficients of variation.Measures of Skewness ‘Some distributions are symmetrical (it has no skewness), positively skewed (the mean is the largest of the averages), negatively skewed (the mean is the smallest of the averages). The degree of skewness in a distribution can be measured by the so-called coefficient of skewness developed by Karl Pearson Formula: — 3.@-median) a s Sk example 1. The lengths of stay on the cancer floor of Sunnyside Hospital were organized into a frequency distribution, The mean length was 28 days, the median 25 days, and the modal length 23 days. The standard deviation was computed to be 4.2 days. 's the distribution symmetrical, positively skewed, or negatively skewed? What is the coefficient of skewness. 2. _A sample of experienced data entry clerks revealed that their mean typing speed is 87 words per minute and the median is 73. The standard deviation is 16.9 words per minute. Is the distribution symmetrical, Positively skewed, or negatively skewed? What is the coefficient of skewness.Kurtosis Kurtosis is degree of peakedness. As shown below, in figure A although both curves are symmetrical, one curve is more peaked. The curve in figure B is called mesokurtic curve (meso means intermediate). The curve in figure C is called a leptokurtic curve (lepto means slender). The curve in figure D is called a plafykurtic curve (platy means flat). As shown, symmetrical distributions can have varying degrees of peakedness. Lepiohurte cave Te Loe a.